Aurelia backs out of CSA purchase discussions

Aurelia Metals has declared it is no longer interested in purchasing CSA Mine.

Aurelia’s executive chairman and CEO Cobb Johnstone, who recently took over the role from Jim Simpson, made the announcement last week following continuing speculation and commentary in the market regarding Aurelia’s interest in CSA Mine and a potential transaction.

Mr Johnstone referred to a previous announcement to the ASX (Australian Stock Exchange) on April 26 by Aurelia clarifying that the company had entered preliminary discussions with CSA’s owner, Glencore, after a “high-level assessment was that CSA Mines could be a strategic fit” for Aurelia.

“Contrary to the apparent continuing speculation and commentary in the market, the Company wishes to advise that it is no longer in discussions with the owner of CSA Mines regarding the possibility of a transaction,” Mr Johnstone said.

“The company’s current priorities are working through the leadership transition announced on May 2, 2019 and seeking to maximise shareholder value through the opportunities within our existing portfolio.

“Aurelia’s FY19 gold production guidance of 115-130k oz remains unchanged,” he said.